5 minutes reading time (939 words)

Silk Road Coin Presentation by LGR Group

Friday, 20 March 2020

The time is past when tossing a single coin was already an added value. There are currently hundreds of coins and thousands of tokens in the world of cryptocurrencies, and therefore when a company wants to succeed it must offer not just one coin or one token, but an entire value proposition for an entire ecosystem. This is the case of the proposal that we bring today: Silk Road Coin by LGR Group.

What do we understand by Silk Road?

Before going in to talk in-depth, we must be clear about what we are talking about when we talk about Silk Road.

Silk Road, within the world of cryptocurrencies, refers to the first and most mythical online market with bitcoin. It sold absolutely everything, including drugs and weapons. That adventure of eliminating intermediaries ended with the founder (Ross Ulbrich) sentenced to life in prison in the United States and with a great controversy on a subject that has subsequently been debated in other tools: is the provider of a tool the culprit of what people do with it?

But no, when LGR brings us Silk Road, it does it from a more classic sense. The term "silk road" comes from the Renaissance, in which Marco Polo's travel books describe the silk road as a great trade route that starts in China, croses all of Asia and all of Europe, and reaches most important ports in Europe, such as Venice at that time.

This is precisely the objective of LGR, it seeks to create a banking platform that will connect all the countries that are crossed by this historic trade route.

What is LGR Group?

LGR Group is a company founded with headquarters in Belize and specialized in banking and trade services and gold (in all its business lines).

Currently its core business is the gold trade, from producers (especially in Africa) to distributors or transformer refineries. It also has a major branch of commodity trading, thanks to its contacts in the Middle East oil sector.

In recent times they also have cryptocurrency exchange activities for high volume (OTC) clients.

And in the near future its big bet is the Silk Road Coin and Banking Platform.

What is Silk Road Coin?

Silk Road Coin is the cryptocurrency backed of the future cross border money movement and crypto banking services platform between Silk Road countries that aspires to unify all the countries that the Silk Road travels, forming a common market and with access by all of them under the same currency. It is interesting to remember that we are talking about 65 countries including China and many European countries, accumulating up to 1/3 of the total world population. Achieving the challenge of unifying them economically is a dream, which can be very profitable. And that it has the endorsement of the main Asian commercial organizations involved.

The objective is to help increase the wealth of nations and the standard of living of their citizens through trade.

On a technical level we are talking about a currency built under the Waves blockchain, one of the fastest, safest and most decentralized blockchains in the world. This is done to allow smooth operation and to not be affected by network saturation, as is often the case with the Ethereum network. Initially, we are dealing with a "coin", which has its price linked to the euro (although in ICO it is cheaper).

The value proposition for Silk Road Coin includes reputable international trade professionals working towards those who initially acquire SRC tokens:

Cross-border payments between the member countries.
Interconnection of banks and financial systems of the member countries.
Crypto-banking services:
Exchange from fiat to crypto and vice versa.
Credit card.
Cryptocurrency loans and deposits.
Currency exchange for goods and smart contracts.

In this way, those who initially choose to be part of SRC will see how LGR experts analyze dozens or hundreds of projects and give way to the most powerful ones, thus having access to investments (and returns) that until now were only reserved for the private sector OTC.

The Silk Road Coin ICO

As best is "lead by example." SRC was created under the Waves blockchain, so there was no need to host a typical ICO, in a typical exchange. Firstly, for the associated costs it has, but above all for the dangers derived from the centralization of the point of sale. You are exposed to attacks, robberies and hacks.

Therefore, this phase of the ICO is carried out in the form of a decentralized exchange on the Waves blockchain.

To do this, you just have to install the Waves DEX, and from there we go to the "trades" tab, and look for the SRC token identifier: CjhHBGdQycCgmP4vRoWvEL1SLzSUw5d2gwVs4fR84DBU. With this we can perfectly identify the token in the market and accept the sale offer or make a new offer, always in a decentralized exchange format as we have seen in other exchanges that exist outside of ETH where their tokens can be traded.

Other forms of purchase involve currency exchange, so it is best to go directly to the ICO page on the LGR Group website.

Here are some of the technical details of the token and the ICO: